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HomeMy WebLinkAbout06-23-26 Public Comment - C. Branch, I. Barkan - Public Comment Opportunity Zone Tract 6 From: Jesse DiTommaso To: Bozeman Public Comment Cc: Brit Fontenot Subject: Public Comment Opportunity Zone Tract 6 Date: Tuesday,June 23,2026 11:58:45 AM Attachments: Letter of Support for Evaluation and Inclusion of North 7th Avenue Corridor for Opportunity Zone Designation— Bozeman,Montana.pdf Opportunity Support Draft 6-15-2026.docx Good morning, Attached please find letters of support for the Opportunity Zone item this evening. Thanks, *Please note the change to my email address. Jesse DiTommaso I City of Bozeman Economic Development I She/Her/Hers C:406.579.24941jesse.ditommaso(a)bozemanmt.gov 1 vvvvvv.bozeman.net Boundary Development To Whom It May Concern, I am writing in support of evaluating and pursuing the inclusion and/or update of Opportunity Zone eligibility for portions of the North 7th Avenue corridor in Bozeman, Montana. North 7th represents one of Bozeman's most strategically positioned redevelopment corridors and presents a unique opportunity to align private investment with meaningful public outcomes. As Bozeman continues to experience sustained population growth and increasing pressure on housing affordability, infrastructure, and commercial development patterns, thoughtful tools that encourage long-term investment have become increasingly important. Opportunity Zone designation would provide an additional mechanism to attract patient, long- term capital into an area that is well positioned for reinvestment and transformation. The corridor already benefits from existing infrastructure, regional connectivity,proximity to employment centers, transit access, and established commercial activity—making it an ideal candidate for targeted redevelopment rather than continued outward expansion. We believe this designation could support several important public objectives: • Increase the production of attainable and workforce housing • Encourage redevelopment of underutilized and aging properties • Expand employment opportunities through construction and long-term operations • Support mixed-use and neighborhood-serving commercial investment • Strengthen the local tax base • Promote efficient use of existing infrastructure and reduce pressure for sprawl Importantly, Opportunity Zone investment is not a substitute for sound planning or local policy—it is a tool that can help bridge feasibility gaps created by rising construction costs, elevated capital markets, and increasing infrastructure demands. North 7th has the ability to become a more vibrant, connected, and productive corridor that serves residents,businesses, and the broader Bozeman community for decades to come. We respectfully encourage the City, County, and relevant State and Federal stakeholders to evaluate and support inclusion of qualifying areas along North 7th Avenue within future Opportunity Zone considerations and related economic development initiatives. Thank you for your consideration and continued leadership in shaping Bozeman's future growth in a responsible and sustainable manner. Sincerely, Crosby Branch Boundary Development LLC 1 June 15, 2026 �Ci City of Bozeman Montana Attn: Opportunity Zone 2.0 Application Review Team Re: Support for Opportunity Zone Designation of Census Tract 30031000600 (Tract 6) Dear Mayor, Commissioners, and Members of the Review Team: On behalf of Bozeman Town Center LLC and Lincoln Property Company, we are pleased to provide our strong support for the City of Bozeman's application for Opportunity Zone designation of Census Tract 30031000600 (Tract 6). Our organizations have participated in developments throughout the United States that have successfully utilized Opportunity Zone investment to attract long-term private capital, accelerate redevelopment, create jobs, and transform underutilized properties into productive economic assets. We have seen firsthand how Opportunity Zone designation can provide the critical investment advantage needed to move major community projects from concept to reality. We believe Tract 6 represents one of the strongest Opportunity Zone candidates in Montana. The area contains significant vacant and underutilized land near the Gallatin County Fairgrounds,North 7th Avenue, Interstate 90, and major transportation corridors, creating an exceptional opportunity for catalytic redevelopment. Our joint venture is advancing plans for the redevelopment of the former Kmart property and surrounding parcels into a vibrant, walkable mixed-use district that will serve as a new center for commerce, hospitality, arts, entertainment, housing, and community activity. The project will remove one of Bozeman's most visible blighted properties and replace it with a destination that strengthens both the local economy and quality of life. A centerpiece of the development is a proposed approximately 50,000-square-foot convention and event center, together with a full-service hotel and supporting hospitality facilities. These investments will create substantial construction employment and permanent jobs in hospitality, event management, food service, arts and entertainment, retail, and property operations. The convention center will also enhance Bozeman's ability to attract conferences, trade events, cultural programming, and visitors from throughout Montana and the United States. The broader development will generate significant community benefits, including: • Redevelopment of vacant and underutilized land. • Creation of new employment opportunities. • Expansion of tourism and year-round economic activity. • Support for workforce and affordable housing initiatives. • Increased economic activity benefiting the Gallatin County Fairgrounds and surrounding area. • New opportunities for local businesses, entrepreneurs, and cultural organizations. • Growth of the local tax base and long-term public revenues. Opportunity Zone designation would materially strengthen the ability to attract institutional and private investment capital necessary to realize these benefits. The designation would help accelerate implementation of projects that are already identified, market-supported, and capable of generating meaningful economic impact for Bozeman, Gallatin County, and the State of Montana. For these reasons, Bozeman Town Center LLC and Lincoln Property Company respectfully support the City's application and encourage favorable consideration of Census Tract 30031000600 for Opportunity Zone designation. Thank you for your consideration. Sincerely, Irwin 1.Barkan Irwin J. Barkan Managing Member Bozeman Town Center LLC For and on behalf of the Joint Venture between Bozeman Town Center LLC and Lincoln Property Company I&MIli,